Ex-Samsung boss tax evasion sentence

Former Samsung group chief Lee Kun-Hee was given a three-year suspended jail sentence on Wednesday for tax evasion. He was cleared of other charges.

The court also fined Lee 110 billion won (£54.2 million), more than double the amount of taxes he evaded, but cleared him of charges of breach of trust and illegal issuance of bonds aimed at transferring wealth to his children.

His jail sentence was suspended for five years. Judge Min Byong-hoon ruled against an actual jail sentence as the degree of illegality was not significant enough.

South Korean prosecutors had sought a seven-year jail term and a 350 billion won fine for Lee, who led the company for nearly 20 years. Lee’s personal fortune had previously been estimated to be around £1 billion.